Middle East: Amino Resin Market 2024

Amino Resin Market Size in the Middle East

The Middle Eastern amino resin market amounted to $X in 2023, standing approx. at the previous year. The total consumption indicated tangible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2023, the growth of the market remained at a lower figure.

Amino Resin Production in the Middle East

In value terms, amino resin production fell to $X in 2023 estimated in export price. Over the period under review, production, however, recorded a moderate expansion. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2023, production growth remained at a lower figure.

Amino Resin Exports

Exports in the Middle East

In 2023, amino resin exports in the Middle East shrank rapidly to X tons, with a decrease of X% compared with 2022 figures. In general, exports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. The volume of export peaked at X tons in 2022, and then shrank sharply in the following year.

In value terms, amino resin exports declined markedly to $X in 2023. Over the period under review, exports, however, recorded a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2022, and then declined rapidly in the following year.

Exports by Country

Saudi Arabia represented the major exporter of amino resins in the Middle East, with the volume of exports amounting to X tons, which was near X% of total exports in 2023. It was distantly followed by Turkey (X tons), achieving a X% share of total exports. The United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to amino resin exports from Saudi Arabia stood at X%. At the same time, Turkey (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2023. Turkey (X p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest amino resin supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by Turkey ($X), with a X% share of total exports.

In Saudi Arabia, amino resin exports increased at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Turkey (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2023, growing by X% against the previous year. Overall, the export price, however, continues to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced a decline in the export price figures.

Amino Resin Imports

Imports in the Middle East

In 2023, purchases abroad of amino resins increased by X% to X tons, rising for the fourth year in a row after three years of decline. Total imports indicated resilient growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. The volume of import peaked in 2023 and is expected to retain growth in years to come.

In value terms, amino resin imports dropped to $X in 2023. Over the period under review, imports showed a strong increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2022, and then dropped modestly in the following year.

Imports by Country

Turkey represented the largest importer of amino resins in the Middle East, with the volume of imports amounting to X tons, which was near X% of total imports in 2023. The United Arab Emirates (X tons) ranks second in terms of the total imports with a X% share, followed by Iran (X%). The following importers - Iraq (X tons) and Kuwait (X tons) - each resulted at a X% share of total imports.

From 2012 to 2023, average annual rates of growth with regard to amino resin imports into Turkey stood at X%. At the same time, Iraq (X%) and Iran (X%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2023. The United Arab Emirates experienced a relatively flat trend pattern. By contrast, Kuwait (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Turkey, Iran and Iraq increased by X, X and X percentage points, respectively.

In value terms, Turkey ($X) constitutes the largest market for imported amino resins in the Middle East, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Iran, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Turkey totaled X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Iran (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2023, dropping by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the import price increased by X%. Over the period under review, import prices reached the peak figure at $X per ton in 2022, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform